Building a small business is like gambling. How do you know it will end up successful??
Since you don?t have the same capacity that?big companies and corporations have,?you might think that growing a small business is?a?slow and complicated process.?
Not at all.?
In this article, I?ll share some basic secrets on how to run?and grow?a small business?the?efficient and effective?way.?
How to Grow a Small Business
1. Keep a Clear Vision
As a small business owner, you?ll encounter various mix of challenges?and?accomplishments.?And you?ll be pushed to commit crucial decisions and adjustments.?
Take this COVID-19 pandemic for example. It took down a lot of businesses and even the global economy.?
But there?s one thing you need to keep in mind: ?What’s your vision for the business? Where do you want it to?be??What kind of team would you build???
Understanding want to achieve for your small business will serve as a compass?on your business journey.?
It?won’t?be the?exact?map,?but a compass?can help you?be?aware of what you?re doing and where you?re heading?at.??
Whatever challenges, opportunities and adjustments come,?holding on to?your vision will keep you?and your business initiatives?focused on your ultimate goals.?
2. Delegate to Your Team
Don?t take all the work to yourself. As?BPlans?puts?it, ?Figure out what you do that turn dollars. Then delegate the rest.??
Hiring?and training people to do the work for you will require time and financial investment. But if you?re able to?find the?right team members?and?build them up for effective work?it will pay off.?
More people working on diverse areas at once will drive greater results and grow a small business.?
3. Promote and increase your business? visibility and accessibility
If?you?have?a brick-and-mortar store, that?s good for a local business. But in this digital age with lots of competition,?you need to make your small business more visible to target customers.?
There are?4?major steps to do it:?
a. Get a business website?
Although you or your team can do it yourself, you‘d rather?find a web design company?to build it for you.?
Once you?have a website, get targeted customers visit your website and product pages through?PPC advertising?(e.g. Google Ads).?
c. Search Engine Optimization (SEO)?
While advertising has costs, SEO is free. Make sure you optimize your website pages, products?and blog posts?based on your target keyword.?Through time and consistent effort, this will gain you more organic website traffic.?
d. Social Media?
Your small business doesn?t need to be in?all?social media platforms.?You need to research?which?platforms most of your target customers?are hanging out.??
But to maximize social media, you must be active and engaging to people. Post regularly, participate in relevant comments and answer chat messages.?
These?will?make?your?products or services?more available?to more potential customers.?As?The Balance Small Business?pointed out,?it will?extend your market reach?and open?more?opportunities?nationwide?or even worldwide.?
4. Connect with?your customers
Customers play a big part in growing a small business. Make sure you establish strong connection with?them?throughout their journey with your products or services.?
Aside from engaging with?people?on social media, you?should provide?quality and timely support. It could be via email or live chat on your website.?
Another effective way is?hosting a free webinar.?Discuss about your product or service,?invite questions and answer them,?so?people will?better understand how it works and benefits them.??
It will help you keep existing customers and gain new ones.?
5. Offer high?quality more than anything else
Did you know that?88% Fortune 500 firms in 1955 are gone?by 2014??And the reason is the failure to keep the quality and creativity in the?business.?
Once?the quality your customer receives declines, satisfaction and loyalty decline as well.?Then your competitors will?gain?more attraction.?
In contrast, continuous improvement of your products and services in terms of quality and innovation will?increase customer retention, brand authority, and potential sales.?
6. Create customer loyalty and satisfaction program
According to?Entrepreneur, it costs up to 3-10?times more money?to acquire new customers than to sell something to an existing customer.??
A customer loyalty program could be giving freebies, coupons and early access to new products. If you need more ideas, check out this?article from Salesforce.?
Build an attractive customer?loyalty program?and it will skyrocket your sales over time.?
7. Build strategic?networks?and partnerships
Strategic partnerships with the right companies can?help?grow?a?small business big-time.?
For instance, a closer partnership with a software you?re using for the business can give you priority access to their support team.?When you have new products, they could help with referrals.?
So?look out for other businesses that are complementary to yours.?Attend public events; join online business groups.?Then?propose opportunities for working together.??
8. Use better tools
Remember the basic idea of simple machines? It helps make?human?work easier.?
So?look for?tools that will?simplify your business operations and make you more effective. It could be a social media marketing tool that?allows you to post on multiple platforms from one place at the same time.?
HINT: When you?join?our?web design?services?(Plus & Premium plans),?you get this social media feature for free.?
9. Automate your sales and marketing?funnel
As you look for better tools,?aim for automation. The highest point of growing?a?small business?is making it run with minimal supervision.?
Automate as much as possible, including?
- What happens next when a web visitor?subscribes?to your email list?
- What email goes to their inbox and during what day/time?
- What happens next?when a person doesn?t finish paying for the order?
- What the customer receives after completing payment?
When your sales and marketing process are automated, you can focus and improve other areas of the small business. Ah yes, that also means you can?gain new leads?and customers even while you sleep.?
10. Measure the results and keep refining
Growth never ends. If you want to grow a small business, you need to keep improving everything.?
Take a regular time to evaluate your goals, team, website?performance, customer retention rate, product quality?and others. See what?brings good results and what doesn?t.?
Then, adjust things accordingly.?
Wrapping it Up
Running a small business?is hard. But it shouldn?t be too complicated.?
With the right goals, people, tools and marketing strategy, you can make the?business?run efficiently and bring good results.?
Use better stuff, keep improving. That?s the secret to grow a small business.?